WORCESTER, Mass., Jan. 25, 2010 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced its participation in the 2010 Arab Health Congress (http://www.arabhealthonline.com/congress/index.html) taking place January 25-28 at the Dubai International Exhibition Centre. Generex is participating in the congress through its Middle Eastern branch office, Generex MENA (Middle East and Northern Africa), which received a Commercial License from the Government of Dubai, United Arab Emirates in 2008 and opened an office in Dubai Healthcare City.
The Arab Health Congress is the industry's premier event for the Middle East, bringing together healthcare manufacturers, wholesalers, dealers and distributors with many of the most influential decision makers in the Arab world. Established more than three decades ago, the exhibition is widely viewed as a "mandatory" global event in the healthcare calendar, providing a venue for companies to showcase their products in one of the fastest-growing and most lucrative healthcare markets in the world. Due to the enormous increase in the expatriate population, the region has experienced estimated annual growth of 16 percent in a market estimated to be worth nearly $100 billion per year.
More than 2,500 exhibitors representing more than 65 countries, including 30 national pavilions, plan to participate in the 2010 Arab Health Congress. The event is a balance of dealers and distributors, decision makers and end users, and in recent years has attracted about 50,000 healthcare professionals from all over the world.
"Generex's MENA office in Dubai manages distributors and operations in more than 20 countries," said Bill Abajian, the company's senior executive advisor for global business development and licensing. "We have already begun commercializing our OTC product line and Generex Oral-lyn™, our proprietary oral insulin spray product, and are actively pursuing approval with additional regulatory authorities. We have a strong team at Generex MENA, and will continue to focus our efforts on emerging markets."
About Generex Biotechnology Corporation
Generex is engaged in the research, development and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist™ device. The Company's flagship product, oral insulin (Generex Oral-lyn™), which is available for sale in India, Lebanon, Algeria, and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutics for the treatment of malignant, infectious, allergic, and autoimmune diseases. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.
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Safe Harbor Statement
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plans," "intends," "believes," "will," "estimates," "forecasts," "projects," or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex cannot be sure when or if it will be permitted by regulatory agencies to undertake additional clinical trials or to commence any particular phase of clinical trials. Because of this, statements regarding the expected timing of clinical trials cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.